Chinese airlines posted a collective profit in May, although the exact figure has yet to be released, according to a monthly report from CAAC. The industry's operating revenue rose 10.9% from the year-ago month to CNY21.08 billion ($2.76 billion) against a 2.6% lift in expenses to CNY19.94 billion. Local industry analysts credited a drop in domestic oil prices and the "strong Chinese domestic air transport market" for the improved performance. It was reported that Chinese Oil Co. implemented a cost reduction of CNY90 per ton from April 1, which followed drops of CNY180 on Jan.
Chinese airlines posted a collective profit in May, although the exact figure has yet to be released, according to a monthly report from CAAC. The industry's operating revenue rose 10.9% from the year-ago month to CNY21.08 billion ($2.76 billion) against a 2.6% lift in expenses to CNY19.94 billion. Local industry analysts credited a drop in domestic oil prices and the "strong Chinese domestic air transport market" for the improved performance. It was reported that Chinese Oil Co. implemented ...
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